Beige Book report saves the greenback.
Asian and European trading sessions:
Euro: On Wednesday the EUR/USD pair started to strengthen and reached the $1,3000 level during the morning trading. Euro continued to strengthen after the successful auction of the Portuguese state bonds. Market participants are waiting for the bond auction of Spain and Italy, which are planned for this Thursday. In addition, the European leaders confirmed their intentions to expand the Euro-zone financial support program.
US Dollar: The US dollar rate decreased against its counterparts on Wednesday.
British Pound: The GBP/USD pair showed new maximum of $1.5780. But the negative release of the UK trade balance, which turned out to be below expectations, pressured the sterling.
Japanese Yen: The greenback dropped against the yen as well, and the USD/JPY pair decreased to the Y83,00 level.
Australian Dollar: Australian dollar continued to weaken due to the flood.
Canadian Dollar: Canadian dollar strengthened, due to the expected positive fundamentals, which may show house prices growth in Canada.
Oil: Oil traded around the maximum of $91.24, and the reduction in the US oil supply supported the consolidation of the oil rate.
American trading session:
US Dollar: The released Beige book report supported the US dollar, and the greenback won back its previously lost positions. The report confirmed the increasing number of US economy growth rate signs.
Technical analysis for 13/01
EURUSD
The pair’s support is at 1.28630. The pair’s resistance is at 1.31674. This trading range is expected for a few days. Breakthrough of these levels may signal of changing range.
Resistance: 1.31674, 1.33143, 1.34882
Support: 1.30277, 1.28630, 1.26897
GBPUSD
The pair is aiming to 1.58543. Support is at 1.56722.
Resistance: 1.58543, 1.60322, 1.62050
Support: 1.56722, 1.54842, 1.53482
USDCHF
The pair may trade between 0.98114 and 0.96574. If the pair breaks 0.96574 the pair will decline to 0.95699.
Resistance: 0.98114, 0.99202, 1.00168
Support: 0.96574, 0.95125, 0.93435
USDJPY
The pair’s resistance is 83.933. Support is 82.219.
Resistance: 83.933, 84.866, 85.960
Support: 83.065, 82.219, 81.399
AUDUSD
If 0.98436 is broken the pair will decline to 0.97423.
Resistance: 1.00067, 1.00907, 1.01744
Support: 0.99207, 0.98436, 0.97424